Stellus Capital Management, LLC Provides Unitranche Financing in Support of Stellex Capital’s acquisition of Peltram PlumbingFeb 15, 2022
Houston – TX, February 15, 2022 – Stellus Capital Management, LLC (“Stellus”) announced today that its affiliates provided senior debt financing and an equity co-investment in support of Stellex Capital Management’s (“Stellex”) acquisition of Peltram Plumbing Holdings, LLC (“P3” or the “Company”).
P3 is a plumbing services platform consisting of Peltram Plumbing (Seattle – founded 1986), Power Plumbing (Houston, Dallas, Austin – founded 1988), Precision Plumbing (Charlotte – founded 1981), and E.R. Plumbing (Charlotte – founded 1997). For multiple decades, P3 has been installing plumbing systems and providing maintenance and repair services to the multi- family residential, single family residential, healthcare, commercial & industrial, and education end markets. At its core, P3 is about hard work, reliability, quality, and transparency. Enormous emphasis is placed on having happy employees who, in turn, provide invaluable service and create a highly loyal customer base.
“We are thrilled and humbled by this opportunity to provide capital and resources to support P3’s organic and M&A-focused expansion plan. Our goal is to materially expand maintenance and repair services capabilities in P3’s MSAs and consequently, seek to create more value for its customers and provide better opportunities for its employees,” said Irina Krasik, Principal at Stellex, adding, “We look forward to continuing our partnership with the Stellus team as we execute these initiatives.”
Doug Bollermann, Managing Director at Stellus, added, “We are excited to partner with Stellex and look forward to working with management as the team pursues organic growth and acquisition opportunities. We believe the Company’s established position in high growth geographic markets and Stellex’s industry expertise position the Company well for continued growth.”
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